Friday, May 06, 2011

Morning start...fkli weak 1505-10 fcpo weak 3200+

DJ -140, Europe -1% as energy stocks tumble and cautious ahead of US Apr11 job data. NK reopens -2%. KOS -1%. Commodity selloff. CO -7%. GOLD -2%. FKLI likely to take new lower trading range of 1500-1510 but higher band in early trades amid its wide discount. Selling likely to persist as fbm is seen trading under 1520, bearish zone, 1500-1520. FCPO SO -2%. 3200-support test today. A breach will target 3160 today. Bearish if below 3230

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